RBA's Debelle: Much of Australian construction downturn is still to be expected - Bloomberg
|Much of the downturn in Australia's construction sector is still to be expected and the dwelling investments are expected to fall by 7% over the next year, the Reserve Bank of Australia's (RBA) Deputy Governor Guy Debelle said on Thursday, according to Bloomberg.
The construction sector slowdown intensified in the second quarter with the total work done falling by 3.8% over the three months.
The ratings agency Moody's expects revenue growth for Australian companies to slow to 3% over the next 12-18 months.
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